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German Giant Says US Workers Lack Skills

A mismatch in the US labour market between the skills of unemployed people and the jobs available is making it hard for some companies to find the right staff despite an unemployment rate of more than 9 percent, one of the country’s largest manufacturing employers has warned.

“There’s a mismatch between the jobs that are available, at least in our portfolio, and the people that we see out there,” Mr Spiegel told the Financial Times. “There is a shortage (of workers with the right skills.)”

Gold bugs confident on gold — but stocks?

Commentary: Gold-miner stocks may be due for big rally

NEW YORK (MarketWatch) — Even though commodities (as measured by the CRB Index) were down 4%, and oil down 6%, gold managed to finish up.

The CME August gold contract GC1Q+0.10% settled on Friday up $9.90 on the week at 1,539.10 (up 0.65%).

This was something of a triumph for The Gartman Letter, which last Thursday and the previous Friday substantially increased its gold exposure, which now comprises 11/17 of its model portfolio. All these positions are head-spinningly hedged by various shorts, the latest being copper.